Asda, owned by the Issa brothers, is facing scrutiny over its financial structure and debt. The supermarket's increased finance costs and interest payments, totaling at least £30m and potentially surging above £400m, have raised concerns. Asda executives are under pressure to hand over offshore accounts as MPs question the use of 'Phantom' firms. Despite the £4bn debt mountain, the owner insists on staying in charge.
🔴 Debt-laden Asda’s interest bill to surge above £400m https://t.co/5VMHetYdso
Asda owner shrugs off £4bn debt mountain and insists he should stay in charge https://t.co/M1QK5iyKPD https://t.co/9PEO9JJppN
Asda faces increased interest payments of at least £30m from February as loans taken on by the billionaire Issa brothers to fund the £6.8bn purchase of the supermarket start to become due Read more⬇️ https://t.co/Mu60Tsj6as
Asda execs to hand over offshore accounts after MPs question 'Phantom' firms https://t.co/B8TFTKdZoV
Asda reveals higher finance costs as boss defends debt structure Read more⬇️ https://t.co/snT3JN5114